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Rich People Are the Big Barrier to Stabilizing the Climate
(newrepublic.com)
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this post was submitted on 07 Nov 2023
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There were two possible definitions to go by: income or net worth. Look how low the net worth figure is (especially the one from the Credit Suisse study).
Keep in mind that even a $1M net worth -- more than either the Credit Suisse or World Inequality Report measure -- is considered on the low side in terms of retirement savings by age 65. (At a 4% safe withdrawal rate, it only gets you $40k/year to live on.)
Page 25 has a breakdown of median wealth. For the US it is $93,271, however for Western Europe it is higher then that to be fair.